Strengths
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!. !. For Organizational Success. Strengths. Weaknesses. Opportunities. Threats. SWOT Analysis. Objective. Explain What is SWOT Analysis. Explain the Elements of SWOT Analysis. List the Objectives of SWOT. Describe Who needs SWOT Analysis. Explain the Internal and External Factors.

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Strengths

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Strengths

!

!

For Organizational Success

Strengths

Weaknesses

Opportunities

Threats

SWOT Analysis


Strengths

Objective

  • Explain What is SWOT Analysis

  • Explain the Elements of SWOT Analysis

  • List the Objectives of SWOT

  • Describe Who needs SWOT Analysis

  • Explain the Internal and External Factors

  • Describe the SWOT Quadrants

  • Explain What is TOWS Analysis

  • Describe the Various Quadrant Combinations

  • Explain the Steps of SWOT Analysis

  • Explain the Role of Brainstorming in SWOT Analysis

  • Explain SWOT-Driven Strategic Planning

  • Describe the Considerations for Effective SWOT Analysis

  • List the Benefits and Pitfalls of SWOT Analysis

  • List the Common Mistakes in SWOT Analysis

  • List the Tips for Effective SWOT Analysis


Strengths

Introduction

It has decided to venture into the market of cosmetics with the launch of a new brand of cosmetics ‘Glaze’ in the market.

Globus Inc. is a leading manufacturer of baby products.

However, before Globus can actually make the final decision of venturing into a new market, it needs to find out the things that are working in its favor and the aspects that can lead to the failure of its new venture.


Strengths

What do you think Globus should do to analyze this situation?

Introduction

It has decided to venture into the market of cosmetics with the launch of a new brand of cosmetics ‘Glaze’ in the market.

Globus Inc. is a leading manufacturer of baby products.

However, before Globus can actually make the final decision of venturing into a new market, it needs to find out the things that are working in its favor and the aspects that can lead to the failure of its new venture.


Strengths

Introduction

Carrying out a SWOT Analysis will help Globus understand the company’s strengths, weaknesses, opportunities and threats.

Globus can do a SWOT Analysis of its position in the market.

SWOT Analysis would help Globus understand its strengths that would be helpful in the new venture, its weaknesses that need to be overcome to be successful in launching the new products, the opportunities that it has at hand to succeed in the new venture and the threats that it perceives to the success in the new venture.


Strengths

Hence, you can see that an organizational SWOT Analysis can be a very useful tool for a company’s development to succeed in any venture.

Let us look at organizational SWOT Analysis in detail.

Introduction

Carrying out a SWOT Analysis will help Globus understand the company’s strengths, weaknesses, opportunities and threats.

Globus can do a SWOT Analysis of its position in the market.

SWOT Analysis would help Globus understand its strengths that would be helpful in the new venture, its weaknesses that need to be overcome to be successful in launching the new products, the opportunities that it has at hand to succeed in the new venture and the threats that it perceives to the success in the new venture.


Strengths

What is SWOT Analysis?

SWOT Analysis is a technique founded by Albert Humphrey who led a research project at Stanford University in the 1960s and 1970s.

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The acronym ‘SWOT’ stands for:

Weaknesses

Strengths

Opportunities

Threats


Strengths

Strengths

  • Strengths are:

  • Characteristics of the business or team that give it an advantage over others in the industry.

  • Positive, tangible and intangible attributes, internal to an organization.

  • Beneficial aspects of the organization or the capabilities of an organization, which includes human competencies, process capabilities, financial resources, products and services, customer goodwill and brand loyalty.

S

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Strengths

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Strengths

Quadrant 3

Quadrant 3 —internal strengths matched with external threats

Quadrant 1

Quadrant 4

Weaknesses and Opportunities

Quadrant 3 helps the organization through the formulation of strategies by opening up the opportunities along the road by reducing some weaknesses that are currently present.

Quadrant 2

Quadrant 3


Strengths

Tip

Matching and converting is one way of utilizing SWOT.

‘Matching’ is used to find competitive advantages by matching the strengths to opportunities.

‘Converting’ is to apply conversion strategies to convert weaknesses or threats into strengths or opportunities.

Finding new markets is an example of a conversion strategy.

Moreover, if the threats or weaknesses cannot be converted, then an organization should try to minimize or avoid them.


Strengths

Steps of SWOT Analysis

Perform SWOT Analysis & Document:

This step includes the following:

Establish the objectives

Select contributors

Allocate research & information gathering tasks

Create a workshop environment

List SWOT Analysis

Evaluate listed ideas against Objectives

Carry your findings forward

Let us look at each in detail.

Analyze Internal & External Environment

Perform SWOT Analysis & Document

Perform SWOT Analysis & Document

Prepare Action Plans


Strengths

Effective SWOT Analysis

Searching extensively for competitors

  • Searching Extensively for Competitors:

  • It is critical for conducting an effective SWOT Analysis that you do not overlook any competitor, both current as well as future competitors.

  • You should consider all competitors including the following:

    • Product competitors

    • Generic competitors

    • Total budget competitors


Strengths

Did You Know?

SWOT analysis is greatly used in competitor analyses. Marketers build detailed profiles of each competitor in the market, focusing especially on their relative competitive strengths and weaknesses by using SWOT Analysis. Marketing managers examine each competitor's cost structure, sources of profits, resources and competencies, competitive positioning and product differentiation, degree of vertical integration, historical responses to industry developments, and other factors. The management often conducts market research to obtain this information about its competition.


Strengths

SWOT Analysis Template


Strengths

Common Mistakes in SWOT Analysis

It is very important to conduct a SWOT Analysis that is effective and produces results. However, there are certain common mistakes that people tend to make while conducting a SWOT Analysis. The five most common mistakes that people make while conducting a SWOT Analysis are as follows:

Unclear goals or unclear objectives

Keeping a very narrow focus

Not taking input from others

Conducting an analysis only once

Relying on SWOT as a holistic diagnostic strategy


Strengths

Learn Management the Easy Way – A Continuous Learning for People of Any Age Group – Learn At Your Own Pace….

This is a DEMO Course On – SWOT Analysis. Register Now & Download Complete Powerpoint Presentation on SWOT Analysis (130 Slides) and 4 Other Topics for FREE.

Join Premium Membership and Get Access to More than 75 Courses. For Every Course You Get Powerpoint Presentation + New Courses Added Every Week. Cost Per Course - Less than 2 USD

ManagementStudyGuide.com


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